Leaving the budget measures details aside, Swan should and will be remembered for his three D creation to Federal public finance: deficits, debts and defeat.
The Labor Government inherited a budget surplus and a future fund showing a net government wealth/assets of tens of billions. He, however, has so successfully turned them into consecutive budget deficits - the first D creation. Through those deficits, he has created his second D - a huge debt a long lasting legacy of Swan's incompetent management of the Federal budget.
Of course, that is not all and through his management of the RSPT he created the downfall of Rudd prime ministership and his MRRT and carbon tax disasters that turned a projected surplus to a 12 fold budget deficit. Through this, Swan has completed his third D creation, that is, the guaranteed defeat of the Gillard government in September.
Swan and the government has developed and used a deceitful trick of saying revenue write down by inflating revenue estimates.
Of course, no one should forget his dishonest manipulation of the accounting standard by shifting spending and revenues across years just to create a projected budget surplus for 2012-13 that is not 1200% larger in the red.
What a treasurer! What an achievement! One has to marvel?!
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